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HP sees more layoffs, regardless of merger plans

HP sees more layoffs, regardless of merger plans

In documents filed with the US Securities and Exchange Commission, Hewlett-Packard is holding out the possibility of more layoffs, whether or not its merger with Compaq Computer is successful.

In an S-4 filing regarding HP's purchase of outstanding shares of Indigo NV stock, HP said there may be more layoffs coming at a combined HP/Compaq company.

"In addition to the previously announced workforce reductions of the separate companies, the combined company may have additional workforce reductions," the January 25 filing said. "The planned workforce reductions are expected to involve approximately 15,000 employees of the combined company worldwide, representing approximately 10 per cent of the combined company's workforce, and workforce reductions would also be expected if the proposed merger is not completed."

Also in the filing, HP said it expects to have a combined worldwide workforce of 145,000 people, and plans to reach those "expected head-count reductions through attrition and targeted job reductions."

According to published reports, HP made the similar statements in its 10-K form that it filed with the SEC. HP officials didn't comment on that report, and attempts to reach the company weren't immediately successful.


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